Wall Street Zen Upgrades ITT (NYSE:ITT) to “Buy”

ITT (NYSE:ITT) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Other research analysts have also recently issued research reports about the company. TD Cowen lifted their price objective on ITT from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. DA Davidson reiterated a “buy” rating and set a $215.00 price target on shares of ITT in a research note on Monday, December 8th. Stifel Nicolaus set a $225.00 target price on ITT in a research report on Friday, December 5th. Bank of America raised their price objective on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, KeyCorp lifted their price objective on ITT from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $207.13.

ITT Trading Up 1.0%

Shares of NYSE:ITT opened at $181.93 on Friday. ITT has a 52-week low of $105.64 and a 52-week high of $197.07. The company has a market capitalization of $15.65 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.52. The company has a 50-day simple moving average of $179.92 and a 200 day simple moving average of $173.23.

ITT (NYSE:ITT) last issued its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.11. ITT had a return on equity of 18.96% and a net margin of 12.67%.The business had revenue of $999.10 million during the quarter, compared to analyst estimates of $973.69 million. During the same quarter in the prior year, the firm earned $1.46 earnings per share. ITT’s revenue for the quarter was up 12.9% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Sell-side analysts forecast that ITT will post 6.51 earnings per share for the current year.

Insider Buying and Selling at ITT

In related news, CFO Emmanuel Caprais sold 5,500 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $185.23, for a total value of $1,018,765.00. Following the sale, the chief financial officer directly owned 36,830 shares in the company, valued at approximately $6,822,020.90. The trade was a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mesa Graziano Cheryl De sold 238 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $183.08, for a total value of $43,573.04. Following the transaction, the chief accounting officer directly owned 5,062 shares of the company’s stock, valued at approximately $926,750.96. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by insiders.

Institutional Trading of ITT

Several hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. purchased a new position in shares of ITT in the 2nd quarter worth $27,000. True Wealth Design LLC grew its position in ITT by 219.2% in the third quarter. True Wealth Design LLC now owns 166 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 114 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in ITT during the second quarter worth approximately $34,000. Quent Capital LLC bought a new stake in shares of ITT in the 3rd quarter valued at approximately $37,000. Finally, Triumph Capital Management purchased a new position in shares of ITT in the 3rd quarter worth approximately $37,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Company Profile

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.